Tractor Supply (NASDAQ:TSCO) Stock Rating Cut to In-Line at Evercore

Tractor Supply (NASDAQ:TSCO) was downgraded by equities research analysts at Evercore from an “outperform” rating to an “in-line” rating in a research note issued on Friday, FinViz reports. They presently have a $38.00 price objective on the specialty retailer’s stock, down from their previous price objective of $40.00. Evercore‘s target price would suggest a potential upside of 3.74% from the company’s previous close.

TSCO has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Tractor Supply from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. BNP Paribas Exane upped their target price on Tractor Supply from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. DA Davidson set a $36.00 target price on Tractor Supply in a report on Thursday, October 8th. Mizuho set a $31.00 target price on shares of Tractor Supply in a research report on Friday, October 23rd. Finally, Morgan Stanley restated a “negative” rating and set a $35.00 price target on shares of Tractor Supply in a report on Friday, July 24th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.54.

Tractor Supply Stock Performance

Shares of Tractor Supply stock opened at $36.63 on Friday. The company has a quick ratio of 0.20, a current ratio of 1.38 and a debt-to-equity ratio of 0.86. Tractor Supply has a twelve month low of $28.36 and a twelve month high of $56.94. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 2.84 and a beta of 0.49. The company’s fifty day moving average is $33.55 and its 200 day moving average is $37.55.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, October 22nd. The specialty retailer reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Tractor Supply had a return on equity of 40.05% and a net margin of 6.13%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the company earned $0.49 EPS. Tractor Supply’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Tractor Supply will post 1.95 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TSCO. Elevation Wealth Partners LLC boosted its position in shares of Tractor Supply by 1,253.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 785 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 727 shares in the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in Tractor Supply in the second quarter worth approximately $26,000. Community Financial Services Group LLC increased its holdings in Tractor Supply by 3,240.0% in the second quarter. Community Financial Services Group LLC now owns 835 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 810 shares in the last quarter. Bullseye Investment Management LLC acquired a new position in Tractor Supply in the second quarter valued at approximately $31,000. Finally, Pingora Partners LLC acquired a new position in Tractor Supply in the second quarter valued at approximately $32,000. 98.72% of the stock is owned by institutional investors and hedge funds.

Tractor Supply Company Profile

Tractor Supply Company is a U.S. retailer focused on the needs of rural communities, farmers, ranchers, and outdoor enthusiasts. Its stores and e-commerce business sell products for livestock and pets, including animal feed and supplies, as well as equine goods, fencing, tools, hardware, lawn and garden products, workwear, and seasonal merchandise. The company also operates Petsense, a specialty pet-supply retailer. Tractor Supply serves customers across the United States through its retail stores and digital channels.